Wes Wilbur, 21, went to Hamilton College in New York expecting to major in psychology and minor in economics, but after a couple of classes, he realized that psychology wasn’t right for him.

“My sophomore year, I had no idea what I wanted to do,” the Connecticut native said.

Like Wilbur, many students enter college without a clear track in mind or change majors once they get there. Reports vary, but estimates suggest that more than 50 percent of students start out as undecided or change their majors. And while enrolling as an undeclared major can give students the opportunity to explore a variety of different career options – students at Hamilton College can’t declare a major until the second semester of their sophomore year – indecision can lead to more time in college and extra student debt.

Undecided students should be diligent about using campus resources to find a career path and graduate on time to limit their financial burden, experts say.

“You may want to go to graduate school later on,” says Joseph Orsolini, president of College Aid Planners, a consulting organization in Illinois that helps families navigate paying for college. “It’s best to conserve as much money early on as you’re figuring all of that out in the process.”

He encourages students to get their degree “on the cheap at a solid school” and wait until grad school to spend money on a brand name.

In-state, public schools are generally the cheapest four-year options, but private schools can be less expensive for students who receive aid.

“Students shouldn’t be afraid of the higher-priced school, because if they are eligible for financial aid they can bring their expected family contribution down,” says Jodi Okun, founder of College Financial Aid Advisors, a California-based consultancy that guides families through the financial aid process. “They may not have to pay that full ticket price.” read more